DundeeWealth(R) Reports Year End 2010 Fee Earning Assets of $83.3 Billion

Net sales of $4.9 billion and 32% growth in AUM for 2010

TORONTO, Jan. 5 /CNW/ - DundeeWealth Inc. ("DundeeWealth" or the "Company") (TSX: DW) reported total revenue earning fiduciary assets at December 31, 2010 of $83.3 billion. This includes $47.7 billion in assets under management ("AUM"), $7.2 billion in Bank Deposits from Dundee Bank of Canada and $28.4 billion in assets under administration ("AUA").

DundeeWealth AUM grew 32% year over year in connection with strong fund performance and all time highs in both gross and net sales. Gross sales of $10.8 billion and net sales of $4.9 billion for the 12 months ended December 31, 2010 are up 66% and 87% compared with the 12 months ended December 31, 2009.

Change in DundeeWealth AUM for December 2010 includes Dynamic Funds ("Dynamic") long-term mutual fund net sales of $401 million and short-term mutual fund net sales of $8 million. For the year ended December 31, 2010, Dynamic generated $4.1 billion in long-term mutual fund net sales with short-term mutual fund net redemptions of $70 million.

    <<
    Fee Earning Assets
    As at December 31, 2010
    (in millions of $)
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    AUM                                                               47,703
    -------------------------------------------------------------------------
    AUA                                                               28,443
    -------------------------------------------------------------------------
    Bank Deposits, Dundee Bank of Canada                               7,182
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    Total revenue earning fiduciary assets                            83,328
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------

              For the one-month and 12-month periods ended December 31, 2010
                                             December 2010    12-months 2010
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    AUM Activity:
    -------------
    AUM at beginning of period, excl. Dundee
     Securities and currency management accounts    42,980            34,028
    -------------------------------------------------------------------------
    Gross additions                                    978            10,764
    Gross redemptions                                  432             5,828
    -------------------------------------------------------------------------
    Net additions                                      546             4,936
    Change in market                                 1,155             5,717
    -------------------------------------------------------------------------
                                                    44,681            44,681
    -------------------------------------------------------------------------
    High net worth accounts - Dundee Securities
     managed accounts                                2,665             2,665
    -------------------------------------------------------------------------
    Third party institutional - active currency
     management accounts                               357               357
    -------------------------------------------------------------------------
    Total AUM                                       47,703            47,703
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    AUM Breakdown:
    --------------
    Mutual funds                                                      35,169
    Closed end funds                                                     280
    Structured investment solutions                                      399
    High net worth accounts - Goodman Private Wealth                   2,253
    High net worth assets in other categories                           (541)
    High net worth accounts - Dundee Securities managed accounts       2,665
    Third party institutional                                          7,121
    Third party institutional - active currency management accounts      357
    -------------------------------------------------------------------------
    Total AUM                                                         47,703
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    >>

About DundeeWealth Inc.

DundeeWealth is a Canadian owned, independent wealth management company that currently oversees $83.3 billion in fee earning assets. It provides diversified wealth management and investment solutions including alternative and tax-advantaged products, capital markets and advisory services to financial advisors, institutions, corporations and foundations, and innovative wealth management through independent financial advisors across Canada. Its award winning investment brand, Dynamic Funds(R), managed by Goodman & Company, Investment Counsel Ltd., is also available outside of Canada through distribution platforms in Europe and the United States. DundeeWealth is listed on the Toronto Stock Exchange (TSX: DW).

SOURCE DundeeWealth Inc.

For further information: Investor/Analyst inquiries, John Pereira, Chief Financial Officer, DundeeWealth Inc., (416) 365-5180; Media inquiries, Myra Reisler, Director, Public Affairs, DundeeWealth Inc., (416) 365-5370

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DundeeWealth Inc.

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